Location: Smith County, MS | Metro: Covington County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,080 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
14.3% of the population in ZIP 39168 rents their homes, indicating a smaller but steady demand for rental properties. The $727 market rent figure derived from Census ACS data suggests that tenants are willing to pay this amount on average for a rental unit in the area. For landlords and small-portfolio investors looking to understand the financial landscape, the $900 Fair Market Rent (FMR) for zip code 39168 for fiscal year 2024 provides a benchmark for pricing rental units competitively while ensuring profitability. This FMR is set by HUD and reflects the maximum amount a voucher holder can pay towards rent, making it a crucial figure for those interested in Section 8 participation.
The median home value of $145,748 in ZIP 39168 offers insight into the overall housing market's stability and potential appreciation. While the median income of $45,298 might seem modest, it aligns well with the $727 market rent, suggesting that most residents can afford typical rental costs without significant strain. However, the availability of N/A-day Days on Market (DOM) and N/A% price-cut share indicates a lack of recent data on how quickly homes are selling and at what discount rates, which could be due to limited transactions or reporting issues.
In conclusion, for landlords and small-portfolio investors, ZIP 39168 presents a balanced opportunity with manageable tenant affordability and a stable housing market. The participation in Section 8 programs, given the $900 FMR, would ensure a consistent stream of rental income, making it a viable option for those seeking steady returns. Participation in Section 8 is recommended for investors aiming to capitalize on the moderate demand for rentals while benefiting from guaranteed payment structures.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.